Competing globally is a great way for companies to expand their business. However, international trade does offer a spectrum of risk that could cause delayed payments or even non-payment. Since getting paid in full and on time is the number one goal, exporters and...
If you are selling on terms, you are bound to have a customer now and then hit on hard times. Once you have determined a customer is in financial distress, you need to come up with a plan of action fast. You need to protect your interest and also try to salvage a...
Sounds simple, right? The obvious process would be to just send invoices to AP, let them do their magic and next thing you know a payment shows up at your mailbox. Yet despite this seemingly simple process, many invoices still fail to follow the preferred route....
Let’s start off with my favorite negotiation skill – silence. Shhh. Don’t say a word. When it comes to setting arrangements for a payment plan with the debtor, time and again collectors begin negotiations on the wrong foot by talking first and offering up a payment...
Global markets are a great solution as companies continue to expand business reach. The issue to date has been how to efficiently extend payment terms to overseas customers but this issue can be minimized by offering documentary collections terms to customers. These...
Today’s gradually improving U.S. economy still presents special challenges to controllers and their collections staff. Having clear and concise processes helps collectors do their jobs and can save valuable customer relationships. The following are some best...
